Bybit is expanding its derivatives lineup with a new product aimed at traders who want equity-style options without the usual stock-market clock. The exchange said it will introduce “Perp Options,” contracts written on its existing stock perpetual futures rather than on listed shares themselves.
The first pair, covering SpaceX (SPCX) and Nvidia (NVDA), is scheduled to go live on September 17, 2026, at 8 p.m. UTC.
The design is meant to feel closer to crypto markets than to a traditional options pit.
Trading will run around the clock, including weekends and holidays. Contracts use a multiplier of one, so there is no 100-share lot size that often prices smaller accounts out of high-priced names.
Settlement is in USDT, which keeps profit-and-loss accounting in a stablecoin instead of introducing extra token exposure.
Positions sit inside Bybit’s Unified Trading Account, so a user can hold spot, perpetual futures, and options in the same wallet.
Portfolio margin is available to every user, allowing hedges across products to lower the capital required to keep a book open.
Strategy support is another selling point.
Traders will be able to buy or sell single options and to construct combinations such as spreads, straddles, and covered calls.
New expiries are expected to be listed on a regular schedule after the initial launch, rather than in a one-off batch.
Bybit framed the product as a way to give users synthetic access to US equity options without two familiar constraints: limited session hours and standardized 100-share contracts.
SpaceX is an especially unusual underlying because the company is not a conventional public listing in the same way Nvidia is; the perpetual already offered a synthetic way to trade that name, and options now sit on top of that synthetic.
Nvidia, by contrast, is one of the most liquid listed stocks in the world, so the appeal is mainly continuous trading and smaller ticket sizes after U.S. cash hours close.
The exchange has already signaled the next names it wants to add: Tesla, the Nasdaq-100 tracker QQQ, the leveraged semiconductor ETF SOXL, and Micron.
That list suggests a mix of single-name tech, index, and sector exposure rather than a random scatter of tickers.
The launch sits inside a broader push by crypto venues to package traditional-finance exposure in perpetual and tokenized wrappers.
Equity perpetuals have already grown into a sizable category on several platforms; layering options on those perpetuals is a logical next step if users treat the perpetual mark as the reference price they actually trade.
Because the options reference Bybit’s own perpetual rather than an exchange-listed share, the payoff follows the venue’s mark, not a Nasdaq print.
Whether the product attracts serious volume will depend on liquidity in both the options book and the underlying perpetuals, as well as on how tightly the options prices track implied volatility that traders already see in conventional markets. For now, Bybit is positioning the September 17 start as an industry first: options on stock perpetuals, tradable every hour of the week, sized in fractions, and settled in USDT.